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Sharper Rise for 2021 Canadian Net Farm Income

Canadian realized net farm income was up even more sharply in 2021 than previously reported, as strong crop and livestock prices countered rising input costs and the drought-reduced Prairie harvest. 

A Statistics Canada report Monday pegged 2021 realized net income for Canadian farmers at $13.7 billion, up 49.8% from a year earlier. That is slightly above the 46.4% increase StatsCan originally reported back in May, although still well below the 2020 gain of just over 70%. In 2019, realized net farm income crept up just 5.1%. 

Realized net income is the difference between a farmer's cash receipts and operating expenses, minus depreciation, plus income in kind. 

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Evolution of Beef Cattle Farming

Video: Evolution of Beef Cattle Farming

The Clear Conversations podcast took to the road for a special episode recorded in Nashville during CattleCon, bringing listeners straight into the heart of the cattle industry. Host Tracy Sellers welcomed rancher Steve Wooten of Beatty Canyon Ranch in Colorado for a wide-ranging discussion that blended family history and sustainability, particularly as it relates to the future of beef production.

Sustainability emerged as a central theme of the conversation, a word that Wooten acknowledges can mean very different things depending on who you ask. For him, sustainability starts with the soil. Healthy soil produces healthy grass, which supports efficient cattle capable of producing year after year with minimal external inputs. It’s an approach that equally considers vegetation, animal efficiency, and long-term profitability.

That philosophy aligned naturally with Wooten’s involvement in the U.S. Roundtable for Sustainable Beef, where he served as a representative for the Colorado Cattlemen’s Association. The roundtable brings together the entire beef supply chain—from producers to retailers—along with universities, NGOs, and allied industries. Its goal is not regulation, Wooten emphasized, but collaboration, shared learning, and continuous improvement.